Russian arms export to reach $9 bln in 2011

Russia’s state-run arms export monopoly will sell no less than $9 billion worth of arms and equipment this year, as opposed to $8.5 billion last year, Rosoboronexport chief Anatoly Isaikin said on Wednesday.

“I am sure that we will exceed this year’s targets – the amount will be $9 billion as a minimum,” he said.

However, Isaikin said this past spring that sales would exceed $9.5 billion.

Arms imports to Russia mainly consist of components for aircraft and armor.

“The volume of such imports is between $100 million and $150 million,” Isaikin said.

This does not include the cost of Mistral amphibious assault ships from France, he added.

“This is because the contract has yet to enter into force,” he said.

Isaikin said earlier in the day that his company had lost a total of $4 billion over the cancellation of contracts with Libya. The figure includes losses of opportunity and foregone profits, he added.

Isaikin stressed that in accordance with international agreements, Russia is currently not supplying any arms to Libya.

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